It's a tough time to be looking for a job.

Oil giant ConocoPhillips is planning to lay off up to a quarter of its workforce, amounting to thousands of jobs, as part of broader efforts from the company to cut costs.

Shares have retreated in Asia after U.S. stocks fell under the weight of higher yields in the bond market.

ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices soar and big oil companies reap massive profits.

ConocoPhillips Alaska faces a potential $914,000 fine over what a state regulatory agency called a “shallow underground blowout” of a well that released natural gas at the company’s Alpine field on Alaska’s petroleum-rich North Slope last year.

Opponents of a major oil project on Alaska's petroleum-rich North Slope lost the first round of their legal battle over the Willow project but said they would not give up.

The Biden administration’s approval this week of the largest new oil project in years on Alaska’s petroleum-rich North Slope has immediately been met by lawsuits seeking to stop the Willow project.

The Biden administration’s approval this week of the biggest oil drilling project in Alaska in decades promises to widen a rift among Alaska Natives.

The Biden administration’s approval of a massive oil development in northern Alaska commits the U.S. to yet another decadeslong crude project.

The Biden administration is approving a major oil-drilling project on Alaska’s petroleum-rich North Slope.

As President Joe Biden prepares a final decision on the huge Willow oil project in Alaska, his administration says he will prevent or limit oil drilling in 16 million acres in Alaska and the Arctic Ocean.

Texas-based ConocoPhillips bought Shell’s Permian Basin assets for $9.5 billion, its second major purchase in the oil-rich area over the last year.

A federal judge in Anchorage has thrown out Trump administration approvals for a large planned oil project.

ConocoPhillips is buying shale producer Concho Resources in an all-stock deal valued at $9.7 billion, making it a major presence in the Permian Basin, the top-producing oil field in the U.S. The deal comes as many oil producers are struggling to make ends meet. More than 200 oil producers have filed for bankruptcy protection in the past five years. ConocoPhillips had acreage in the Permian Basin, but it was small compared to the company's size, and the deal "gets them a premier position in the Permian,” LeBlanc said. The Permian basin stretches from the northern reaches of Texas across the New Mexico border.

Stocks are pulling slightly higher in the early going on Wall Street, Wednesday, Oct. 14, as investors pore over another batch of earnings reports from big U.S. companies. (AP Photo/John Minchillo, File)Asian stocks followed Wall Street lower on Thursday as hopes U.S. leaders will agree on a new economic stimulus before the Nov. 3 presidential election faded. The Shanghai Composite Index lost 0.1% to 3,337.51 and the Nikkei 225 in Tokyo fell 0.5% to 23,517.63. On Wall Street, companies that rely on consumer spending, banks and technology and communication stocks bore the brunt of the selling. Wells Fargo dropped 6% after its earnings were lower than Wall Street expected.